A propeller costs Rs. 1,80,000 and its effective life is estimated to be 10 years.A sinking fund is created for replacing the propeller by a new model at the end of its life time,when its scrap realizes a sum of Rs. 34,000 only.The price of the new model is estimated to be 30% more than the price of the present one.What amount should be put into the sinking fund at the end of each year,if it accumulates at 4% per annum compound interest?(Take $(1.04)^{10}=1.480$).
